20 Apr

Process Problems – The Biggest Issue Impacting Business Performance

According to a study done by Tolero Solutions, “an overwhelming 60 % of people said poor processes were the biggest frustration impacting their business performance and satisfaction at work!”  This is a significantly large number and one that should alarm any Business Owner or Leader wanting their business to be successful.  Process is obviously how we accomplish anything.  Understanding your processes is a crucial step to ensuring successful business performance. 

I find a surprising number of business leaders who think they understand their process only to discover that the process is not what they thought.  Processes break down; they change without considering the impact and all to often employees who are the process don’t understand how their part of the process fits into the bigger business picture.

So what can you do?

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16 Mar

Limiting Beliefs Are Sustaining Your Skill Shortage

Finding workers for your business is harder than ever. According to June 2018 article from CNN Business, There are now more job openings than workers to fill them. With unemployment nationally around 3.8% and here in Wisconsin at 2.8% business owners and leaders are struggling to find workers.  I find this issue to be profound and troubling. The reason, purely anecdotal but I feel a well-qualified anecdotal, is that I communicate weekly with a lot of unemployed highly skilled workers around the US.  To a person, they tell me they can’t get hired. These workers all have one thing in common; they are very experienced people over the age of 50.  And…you aren’t hiring or considering hiring them because of your limiting beliefs

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09 Mar

What Should A Business Owner Do

There are a lot of people telling Business Owners what to do with their business.  Accountants are telling them to reduce their tax exposure, Advisors are telling them to sell more to make more or plan for their business exit, Consultants are addressing business pain points, and Coaches are either telling them to feel good about their business or are helping owners solve their business problems themselves.  All of that conflicting and competing advice and owners are confused about what to do.  As a result, many Business Owners do nothing.  That is, without question, the worst thing a Business Owner should do.  The question remains – what should a Business Owner do?

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23 Feb

Is Profit the Only Business Number You Need to Pay Attention to?

We are experiencing significant prosperity both as a nation and in business.  Business profitability is up; the economy is up, business is good.  According to Market Watch, “A torrid U.S. economy blazed a 3.5% pace of growth during the summer and boosted corporate profits to the highest rate in six years, fresh government figures show.”  But as some would say, “But wait, there’s more.”  “Adjusted corporate earnings before taxes rose 3.4% in the third quarter.  More notably, profits in the past 12 months have climbed at a heady 10.3% clip, the fastest increase since 2012.”  Business is making a profit and a good profit at that.  Sounds good, doesn’t it?  So why the question?  Are there other questions you need to ask?  Is profit the only business number you need to pay attention to?

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09 Feb

I Don’t Want to Plan My Exit From My Business

If you don’t want to plan your exit from your business then don’t.  It’s that simple.  However, that doesn’t mean you shouldn’t work on your business.  Work on your business to make it more productive, more efficient or as I like to say, help make it recession proof.  Being prepared is part of being successful at business.

With Baby Boomers owning most US Businesses it is understandable that the focus of many business consultants is to focus on helping them transition their businesses to others.  Why wouldn’t they, with roughly 10 trillion dollars of business involved it only makes sense.   But Baby Boomers don’t own everything, and not all Baby Boomers are thinking of retirement.  We are living longer than our parents and Grandparents so staying in the business longer also makes sense.  The youngest Baby Boomers are about 53.  They could have another 20 or 30 years of working life left if they choose.  Their businesses need to do things too.

If you don’t want to plan your exit, what should you do?

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